Given the accelerating cost of education, a student loan is often the only choice to pay for it all: the tuition, room, board and books. In some cases, the education costs can be met by university grants, merit scholarship and federal grants. However, statistics show that these preferred methods of funding education have just not kept stride with the annual tuition hikes.
Many students, especially for the expensive graduate school programs are forced to take loans and start their careers with a huge liability. More often than not, we hear of doctors and lawyers with a 6 figure, home mortgage style loan.
Given the high stakes, it is imperative for students to be extremely careful while shopping for the loan. A small mistake can be disastrous for their future financial health and stability.
It is also important to calculate the ROI or Return on Investment on the loans. For instance, the student has to calculate their earning capacity after graduating. The same 100,000 loan can make sense for a MBA student, and not make sense for a person in a Graduate program in English. The former can reasonably expect a salary in the 150K range, while the latter may have trouble getting half that amount.
At Loan Wizard, we provide you with the tools, tips and advice to navigate the land mine. We also point you to a few lenders, without endorsing any of them. Our hope is that with the knowledge you glean from our site, you would be able to make the most informed decision.
There so many funds and other facilities for people so they can educate their kids because everyone is aware of the fact that education is an ultimate benefit for them and also for the nation. All the luxuries we are enjoying today are fruits of education. Realizing this fact all the governments all over the world dedicate a handsome amount of economy for the education of students. There are several loans like, federal student loans, government student loans to facilitate the students. To add ease to student’s loans, there are federal student loan consolidations that make things unimaginably simple. Let me explain!
Student loans consolidation is convenient. Suppose a student have multiple loans, this imply various monthly payments plus a lot of paperwork in addition keeping track of all different due dates.